Gov. Bill Haslam and Tennessee Department of Environment and Conservation (TDEC) Commissioner Bob Martineau announced on Friday, Feb. 10 that Gainesboro will receive a low-interest loan to help make drinking water infrastructure improvements.
The Town of Gainesboro will receive $648,150 for a water meters and water line replacements project to replace approximately 6,000 linear feet of water lines, approximately 13,130 linear feet of service lines, 375 automatic meter reading (AMR) water meters and four zone flow meters. The project will be funded with a 20-year, $486,112 loan with an interest rate of 0.68 percent and $162,038 in principal forgiveness that will not be repaid.
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